Simrin Developers Pvt Ltd & ORS. v. Religare Finvest Limited (A Non Banking Finance Company)

$~16-17 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P. (T) (COMM.) 54/2018 & IA 8865/2018, 13481/2018

(17) O.M.P. (T) (COMM.) 55/2018 & IA 8867/2018, 13480/2018 SIMRIN DEVELOPERS PVT LTD & ORS. ..... Petitioners Through: Mr.Sameer Nandwani, Mohd.Shakim, Advs.

versus RELIGARE FINVEST LIMITED (A NON BANKING FINANCE COMPANY) ..... Respondent Through: Mr.Sanjeev Singh, Ms.Anandita Singh, Mr.Prashant Tripathi, Advs.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 01.10.2018 1.

These petitions have been filed under Section 14 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the „Act‟) seeking termination of the mandate of the Arbitrator appointed by the respondent.

2.

Counsel for the respondent, on instructions, submits that without in any manner admitting any of the contentions raised in the petition, the respondent is agreeable for the termination of the mandate of the Arbitrator appointed and states that the parties be referred to the Delhi International Arbitration Centre (DIAC) for the appointment of a substitute Arbitrator and for conduct of the arbitration proceedings.

3.

In view of the submissions made, the mandate of the Arbitrator appointed by the respondent is hereby terminated and the parties are

directed to appear before the DIAC on 12.10.2018 at 2.00 p.m. 4.

The DIAC shall appoint a Sole Arbitrator for adjudicating the disputes that have arisen between the parties. The petitioner shall have liberty to collect the copy of the Statement of Claim filed by it before the earlier Arbitrator and file the same before the DIAC. 5.

The arbitration proceedings and the fees shall be governed by the DIAC rules.

6.

The petitions are disposed of in the above terms with no order as to costs.

NAVIN CHAWLA, J OCTOBER 01, 2018s RN